The global third party logistics market size is expected to
reach USD 1.2 trillion by 2025, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 7.5% over the forecast period. Logistics
plays a vital role in most of businesses; a reliable and robust logistics
service is a primary requirement for the development of any business. A strong
logistical infrastructure handled by 3PL providers helps the outsourcer focus
on its core business. Globalization has enabled companies to set up a global
business network that necessitates complex transportation services. This, in
turn, is expected to drive demand for outsourced logistics services over the
coming years.
Technology has been transforming 3PL
services and demand within the supply chain for digitalization, automation, and
data collection capabilities has been increasing. Thus, 3PL providers are
laying greater emphasis on technologically-driven services by investing in IT
solutions, blockchain solutions, cloud-based solutions, mobile technologies,
and proprietary innovations to adopt a leading-edge approach.
E-commerce has transformed the
traditional retail sector where logistics plays an important role. In some
instances when a product is returned, the company needs to manage the reverse
logistics process; 3PL providers are leveraging this opportunity by providing
flexible and specialized services. These advanced services can allow end users
or the shipper to track the movement of goods or products.
There is intense competition among 3PL
providers. New competitors are entering the 3PL market with customized and
industry-specific services. To remain competitive in the market, leading
companies are strategically involved in collaborations with and acquisitions of
small- and mid-sized companies.
Browse full research report on Third Party Logistics (3PL) Market: https://www.grandviewresearch.com/industry-analysis/third-party-logistics-market
Further key findings from the report suggest:
- The value-added services segment is expected to exhibit the
highest CAGR over the forecast period, owing to demand for agile supply
chain networks across multiple industries
- Need for complex logistics and warehouse operations is
boosting demand for 3PL solutions in the retail sector
- Globalization and sustainable economic growth in several
countries are driving international trade, thereby driving the airways
segment to witness high growth over the forecast period
- Asia Pacific is anticipated to register a CAGR of over 8.5%
over the forecast period, which can be attributed to the fact that the
region leads the global 3PL market in terms of B2C e-commerce sales
- FedEx; DHL International GmbH; C.H. Robinson Worldwide Inc.;
KUEHNE + NAGEL; and UPS, Inc. are some of the prominent 3PL providers in
the market.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/third-party-logistics-market/request/rs1
Grand View Research has segmented the global third party logistics
market on the basis of service, transport, end use, and region:
3PL Service Outlook (Revenue, USD Billion, 2014 - 2025)
- Dedicated
Contract Carriage (DCC)/Freight forwarding
- Domestic
Transportation Management (DTM)
- International
Transportation Management (ITM)
- Warehousing
& Distribution
- Value
Added Logistics Services
3PL Transport Outlook (Revenue, USD Billion, 2014 - 2025)
- Roadways
- Railways
- Waterways
- Airways
3PL End-use Outlook (Revenue, USD Billion, 2014 - 2025)
- Manufacturing
- Retail
- Healthcare
- Automotive
- Others
3PL Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Poland
- Hungary
- Asia
Pacific
- China
- India
- Japan
- Australia
- Thailand
- Vietnam
- South
Korea
- Latin
America
- Brazil
- Mexico
- MEA
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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